Otterbein University Selects TIAA-CREF as Sole Record-keeper

New York, February 10, 2015 — TIAA-CREF today announced that Otterbein University in Ohio has selected the financial services provider to be the sole recordkeeper of its 403(b) retirement plan. TIAA-CREF will now manage approximately $84 million in assets for more than 800 university employees.1

By adopting a sole recordkeeping model, Otterbein employees will gain access to a range of investment options, including fixed income, stable value options, and TIAA-CREF annuities and equities. In addition to a diverse investment mix, plan participants can take advantage of TIAA-CREF's personalized advice offering, where they can meet one-on-one with a financial advisor to discuss their retirement goals.

"TIAA-CREF provides the retirement planning services our employees are looking for," said Scott Fitzgerald, director of human resources at Otterbein University. "They need an adviser that not only offers quality investment options but also provides customized financial advice that's tailored specifically to their life stage."

"We're excited to begin this new journey with Otterbein University," said Ed Moslander, senior managing director and head of institutional client services for TIAA-CREF. "Our goal is to make sure every plan member can access the retirement planning tools and services they need. Keeping employees engaged throughout the planning process will go a long way in helping them work toward the retirement they have always envisioned."

TIAA-CREF's sole recordkeeping solution will provide Otterbein with better oversight of fiduciary requirements and help keep plan costs low by streamlining administration and enrollment processes. In addition, the university can more closely monitor plan member enrollment, salary deferral agreements, contribution limits, hardship withdrawals, and savings rates for plan members, giving them more flexibility to focus on employee engagement instead of plan logistics.

About TIAA-CREF

TIAA-CREF (www.tiaa.org) is a national financial services organization with $851 billion in assets under management (as of 12.31.14) and is the leading provider of retirement services in the academic, research, medical and cultural fields.

About Otterbein University

Otterbein University has a history as a national leader. In 1847, Otterbein was among the first universities to enroll women in courses alongside men. Today, Otterbein is leading the country in integrating real-life experiences with classroom learning to help each student grow as a whole person. We invite you to learn more about us.

1 As of December 2014.

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Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, are not deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value.

‡Deposit and lending products and services are provided by TIAA Bank®. TIAA Bank is a division of TIAA, FSB, an Equal Housing Lender and Member FDIC. TIAA, FSB NMLS ID: 399805.

The TIAA group of companies does not provide legal or tax advice. Please consult your legal or tax advisor.

TIAA-CREF Individual & Institutional Services, LLC, Teachers Personal Investors Services, Inc., and Nuveen Securities, LLC, Members FINRA and SIPC , distribute securities products. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY. Each of the foregoing is solely responsible for its own financial condition and contractual obligations.

Teachers Insurance and Annuity Association of America is domiciled in New York, NY, with its principal place of business in New York, NY. Its California Certificate of Authority number is 3092.

TIAA-CREF Life Insurance Company is domiciled in New York, NY, with its principal place of business in New York, NY. Its California Certificate of Authority number is 6992.